I believe such should be retained as slide easily of themselves into an English compound, without violence to the ear or to the received rules of composition, as well as those which have received a sanction from the authority of our best poets, and are become familiar through their use of them; such as "the cloud-compelling Jove," &c.

As for the rest, whenever any can be as fully and significantly expressed in a single word as in a compounded one, the course to be taken is obvious.
Some that cannot be so turned, as to preserve their full image by one or two words, may have justice done them by circumlocution; as the epithet einosiphyllos to a mountain, would appear little or ridiculous translated literally "leaf-shaking," but affords a majestic idea in the periphrasis: "the lofty mountain shakes his waving woods." Others that admit of different significations, may receive an advantage from a judicious variation, according to the occasions on which they are introduced.

For example, the epithet of Apollo, hekaebolos or "far-shooting," is capable of two explications; one literal, in respect of the darts and bow, the ensigns of that god; the other allegorical, with regard to the rays of the sun; therefore, in such places where Apollo is represented as a god in person, I would use the former interpretation; and where the effects of the sun are described, I would make choice of the latter.

Upon the whole, it will be necessary to avoid that perpetual repetition of the same epithets which we find in Homer, and which, though it might be accommodated (as has been already shown) to the ear of those times, is by no means so to ours: but one may wait for opportunities of placing them, where they derive an additional beauty from the occasions on which they are employed; and in doing this properly, a translator may at once show his fancy and his judgment.
As for Homer's repetitions, we may divide them into three sorts: of whole narrations and speeches, of single sentences, and of one verse or hemistitch.

I hope it is not impossible to have such a regard to these, as neither to lose so known a mark of the author on the one hand, nor to offend the reader too much on the other.